Page 305 - Bloomberg/workspace/business Standard Web/video

Meta, X, TikTok CEOs ripped by US senators over child online safety

"These companies must be reined in, or the worst is yet to come," Senator Lindsey Graham, the top Republican on the committee, said

US companies turning more optimistic in China outlook, shows survey

Still, 43 per cent of surveyed AmCham members indicated they don't plan to expand their investments this year, and another 5 per cent planned to cut the spending

Crypto exchange FTX abandons efforts to restart its crypto exchange

FTX has been negotiating for months with potential bidders and investors, but none were willing to put in enough money to rebuild the FTX exchange

GPT-4 poses little risk of in creation of bioweapons, says OpenAI

For months, lawmakers and even some tech executives have raised concerns about whether AI can make it easier for bad actors to develop biological weapons

Elon Musk's $55 billion pay package at Tesla voided, things to know

When the package was proposed in early 2018, the goals seemed like moonshots. The top threshold in each category required Tesla to grow by more than 11-fold

China merges hundreds of rural banks amid looming financial crisis

After engineering mergers of rural cooperatives and rural commercial banks in at least seven provinces since 2022

Nasdaq planning to cut hundreds of jobs amid integration of Adenza

Nasdaq is considering cutting some positions and may reallocate others in a bid to minimize redundancies, according to people familiar with the matter

Media mogul Byron Allen'slatest takeover attempt: Paramount for $14 bn

Allen offered $28.58 each for the voting shares of Paramount, a 50% premium to recent trading, and $21.53 for the non-voting shares, according to people familiar with his terms

Samsung's profits decline for 4th straight quarter on uneven chip demand

Samsung expected the smartphone market to rebound in 2024 as consumer sentiment stabilizes in anticipation of a global economic recovery, leading to market growth, especially in the premium segment

PayPal to cut around 2,500 jobs as company grapples with competition

PayPal, which employed around 29,900 workers at the end of 2022, announced a similar round of cuts last January. The latest move will affect about 2,500 workers

Crypto exchange FTX expects to repay customers in full: Bankruptcy lawyer

Restructuring advisers will need to examine all of the millions of claims that have been filed against FTX to weed out those that are not legitimate, lawyer Andrew Dietderich said

Mark Zuckerberg to defend Meta's impact on teens before senate committee

Zuckerberg will defend his company's child safety practices and focus on the benefits of using Facebook and Instagram, the popular apps owned by Meta

TikTok CEO pledges $2 bn during testimony to protect 170 mn US Users

It's Chew's second time testifying before Congress. Last year, he was called to a hearing in the House focused on the potential national security threats stemming from its Chinese ownership

Elon Musk slams Delaware, hints at Tesla move to Texas after pay snub

Musk said states such as Nevada and Texas, where Tesla's headquarters is located, are "better for letting shareholders decide" corporate-governance issues such as pay packages

Delaware judge rules 'unfathomable' pay deal made Tesla CEO overpaid

The judge called Tesla's process of approving the pay package "deeply flawed"

World on cusp of last big refining boom as India starts capacity expansion

Expansions in the West are non-existent," said Giovanni Serio, Vitol Group's head of research

Elon Musk risks losing world's richest title after pay package voided

It remains unclear whether Musk will appeal Tuesday's ruling or Tesla's board will draw up a new pay package

Goldman, JPMorgan Weigh in as ESG funds suffer loss of over $5 bn

Against a backdrop of attacks by the Republican Party and lackluster returns, ESG funds in the US bled more than a net $5 billion in the final three months of 2023

Evergrande creditors to recover just fraction of debt after liquidation

Almost all of Evergrande's assets are in mainland China, presenting legal hurdles for non-Chinese administrators

Microsoft, Alphabet stocks under pressure to show AI earnings boost

Microsoft Corp. and Alphabet Inc., two of the biggest players in AI-related software, will report after the market close